


************************
***Low to High events
************************

use "/Users/sokolins/Dropbox/Ideas/PortfolioManagersSalariesUpdated/JFQA Replication Package May 2025/Code/rep_did_data", clear

keep if event_LTH==1 

tab t, gen(tyear) 


foreach i of numlist 1/2 4/6 {

	gen treat_tyear`i' = treat*tyear`i'
	
}


**Industry spec


local y "ind_spec"
local controls "l_skill l_visibility l_t_visibility l_revenue l_manager_age l_fund_exp extra_role l_nfunds equity l_team_fund_exp l_team_size l_team_manager_age team_equity_share"

reghdfe `y' treat_tyear* `controls' if special==1, a(License firm#year) nocon vce(cl  License year) 
outreg2 using "results.tex",  dec(3) nocon replace ///
  addtext(Manager Characteristics, Yes, Team Characteristics, Yes,Firm*Year  FE, Yes, Manager FE, Yes) keep (treat_tyear4) ///

reghdfe `y' treat_tyear* `controls' if special==0, a(License firm#year) nocon vce(cl  License year) 
outreg2 using "results.tex",  dec(3) nocon append ///
  addtext(Manager Characteristics, Yes, Team Characteristics, Yes,Firm*Year  FE, Yes, Manager FE, Yes) keep (treat_tyear4) ///
  
local y "style_spec"
local controls "l_skill l_visibility l_t_visibility l_revenue l_manager_age l_fund_exp extra_role l_nfunds equity l_team_fund_exp l_team_size l_team_manager_age team_equity_share"

reghdfe `y' treat_tyear* `controls' if special==1, a(License firm#year) nocon vce(cl  License year) 
outreg2 using "results.tex",  dec(3) nocon append ///
  addtext(Manager Characteristics, Yes, Team Characteristics, Yes,Firm*Year  FE, Yes, Manager FE, Yes) keep (treat_tyear4) ///

reghdfe `y' treat_tyear* `controls' if special==0, a(License firm#year) nocon vce(cl  License year) 
outreg2 using "results.tex",  dec(3) nocon append ///
  addtext(Manager Characteristics, Yes, Team Characteristics, Yes,Firm*Year  FE, Yes, Manager FE, Yes) keep (treat_tyear4) ///


seeout using "results.txt"

************************
***High to Low events
************************



use "/Users/sokolins/Dropbox/Ideas/PortfolioManagersSalariesUpdated/JFQA Replication Package May 2025/Code/rep_did_data", clear

keep if event_HTL==1 



tab t, gen(tyear) 


foreach i of numlist 1/2 4/6 {

	gen treat_tyear`i' = treat*tyear`i'
	
}


**Industry spec


local y "ind_spec"
local controls "l_skill l_visibility l_t_visibility l_revenue l_manager_age l_fund_exp extra_role l_nfunds equity l_team_fund_exp l_team_size l_team_manager_age team_equity_share"

reghdfe `y' treat_tyear* `controls' if special==1, a(License firm#year) nocon vce(cl  License year) 
outreg2 using "results.tex",  dec(3) nocon replace ///
  addtext(Manager Characteristics, Yes, Team Characteristics, Yes,Firm*Year  FE, Yes, Manager FE, Yes) keep (treat_tyear4) ///

reghdfe `y' treat_tyear* `controls' if special==0, a(License firm#year) nocon vce(cl  License year) 
outreg2 using "results.tex",  dec(3) nocon append ///
  addtext(Manager Characteristics, Yes, Team Characteristics, Yes,Firm*Year  FE, Yes, Manager FE, Yes) keep (treat_tyear4) ///
  
local y "style_spec"
local controls "l_skill l_visibility l_t_visibility l_revenue l_manager_age l_fund_exp extra_role l_nfunds equity l_team_fund_exp l_team_size l_team_manager_age team_equity_share"

reghdfe `y' treat_tyear* `controls' if special==1, a(License firm#year) nocon vce(cl  License year) 
outreg2 using "results.tex",  dec(3) nocon append ///
  addtext(Manager Characteristics, Yes, Team Characteristics, Yes,Firm*Year  FE, Yes, Manager FE, Yes) keep (treat_tyear4) ///

reghdfe `y' treat_tyear* `controls' if special==0, a(License firm#year) nocon vce(cl  License year) 
outreg2 using "results.tex",  dec(3) nocon append ///
  addtext(Manager Characteristics, Yes, Team Characteristics, Yes,Firm*Year  FE, Yes, Manager FE, Yes) keep (treat_tyear4) ///


seeout using "results.txt"


